HomeMy WebLinkAbout800456.tiff o FINAL REAOINr
ORDINANCE NO . 69
IN THE MATTER OF THE REPEAL AND RE-ENACTMENT, WITH AMENDMENTS, OF
ORDINANCE NO. 25 AND 43 , ADOPTION OF A COUNTY DEVELOPMENT REVENUE
BOND POLICY FOR WELD COUNTY, COLORADO.
BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY,
COLORADO:
o WHEREAS, Ordinance No. 25, Adoption of a County Development
Revenue Bond Policy for Weld County, Colorado, was previously
passed and adopted on the 3rd day of April, 1978, and
c�
WHEREAS, Ordinance No. 43, In the Matter of an Amendment
to Ordinance No. 25, County Development Revenue Bond Policy, was
previously passed and adopted on the 13th day of December, 1978,
and
WHEREAS, pursuant to the 1967 County and Municipality
Development Revenue Bond Act, as set forth in Section 29-3-101,
et seq. , C.R. S. 1973, as amended, the County of Weld is authorized
to issue industrial revenue bonds, and
WHEREAS, the Board of County Commissioners of the County of
Weld, State of Colorado, desires to repeal and re-enact, with
amendments, Ordinance No. 25 and 43 for the benefit of the inhabi-
tants of Weld County and for the promotion of their safety, welfare,
convenience, and prosperity.
NOW, THEREFORE, BE IT ORDAINED by the Board of County Commis-
sioners of Weld County, Colorado that Ordinance No. 25 and Ordinance:
No. 43, previously enacted, be, and hereby are, repealed and
re-enacted with amendments as follows :
SECTION 1. DECLARATION OF POLICY
It is hereby declared to be the policy of the County of Weld,
State of Colorado, to encourage the location, relocation, or
expansion of manufacturing, industrial or commercial enterprises
within the corporate limits of the County, and to that end to
issue development revenue bonds pursuant to the 1967 County and
Municipality Development Revenue Bond Act, as set forth in Section
29-3-101, et seq. , C.R.S. 1973, as amended. This policy is adopted
in furtherance of the primary objectives to mitigate the serious
BOOK 900 oo APR 71980
Recorded at o'clock ...Q...ht.
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1821624 1/4-1411(2e.deur�e ...
Rec. No.
I- / mac.
State of Colorado, Weld County Clerk Cr Recorder
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o°* 900 182162`}
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threat of extensive unemployment, to secure and maintain a balanced
and stable economy, to ameliorate pollution and other environmental
problems and to provide for the public welfare. All such action
provided under this policy, as set forth herein in Sections 2 and
3, shall be taken only when the same is exercised for the benefit
of the inhabitants of Weld County and for the promotion of their
safety, welfare, convenience and prosperity.
In furtherance of the policy set forth in Section 1, the
Board declares that:
1. 1 The Board of County Commissioners will make all necessary
determinations of the desirability of projects and will
not delegate this determination to any agent, contrac-
tor or employee of the County.
1. 2 The County will not employ the provisions of the 1967
County and Municipality Development Revenue Bond Act
to industries presently located in other parts of the
State of Colorado if the result of such act is to
induce removal of these industries from their present
location.
1. 3 The County declares its intention to require payments
in lieu of ad valorem real estate taxes on any project
in the same amount and manner as if the ownership of
the real estate remained in private hands rather than in
the ownership of the County.
1.4 The County will require information and proof of such
matters necessary to establish the bona fide purposes of
the applicant, while not unnecessarily divulging informa-
tion to the competitive disadvantage of the applicant.
1. 5 The County will, in performing its duties, seek to
protect and enlarge the good fiscal reputation of
the County.
1. 6 Material supplied under the following Sections of this
Ordinance shall become the property of the Weld County
Government and shall be public records.
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expy 900 18216 ,1
3 -3
SECTION 2 . COUNTY PLANNING CRITERIA
2. 1 All proposed projects shall be in accordance with and
shall meet the goals, concepts and objectives for
development as set forth in the County' s Comprehensive
Master Plan, and the comprehensive plan of any incorporated
Town or City if such project will be located therein or
within three (3) miles of the corporate limits of such
Town or City.
2 . 2 The property on which any such project is to be located
must be within the corporate boundaries of Weld County
and such property must have affixed thereto a zoning
district classification of the County or of an incor-
porated City or Town which permits the proposed project
use.
2. 3 The plans for the proposed project shall be in strict
compliance with appropriate zoning and subdivision
regulations of Weld County and of any incorporated City
or Town, if such project will be located within the
corporate limits of such City or Town.
2. 4 The County, in consultation with municipalities and
districts, will review and determine the adequacy of
water and sewer services prior to approval by the
Board of County Commissioners.
2. 5 The proposed project plans shall be reviewed and analyzed
by the County to determine necessary off-site capital
improvements including, but not limited to, streets ,
curbs, gutters, sidewalks, utility easements , water and
sewer lines and traffic control devices. Such review
shall include analysis and comments offered by any
incorporated City, Town and School District which may
be affected by the project. Such analysis is for the
purpose of reporting to the Board of County Commissioners
the impact of such development upon other municipal
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e°°9OO 1821624
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services and facilities. The determination of which
parties shall bear the cost of any required off-site
improvements shall be set forth in an agreement between
all parties in interest prior to the consideration by
the Board of County Commissioners of a resolution of
intent to issue bonds for the project.
SECTION 3. APPLICATION REQUIREMENTS
In order to properly process and consider applications to
issue bonds for projects set forth herein, certain criteria,
procedures, guidelines and requirements shall be followed and
submitted by the applicants as set forth below:
3. 1 Legal opinion from an attorney who is a qualified
municipal bond counsel, acceptable to the Board,
stating that the applicant ' s proposal falls within
the intent and meaning of the Economic Development
Revenue Bond Act.
3 . 2 Evidence that the proposed bond issue can be sold
through an acceptable underwriter or to an experienced
investor or group of investors.
3 . 3 A written application containing the following informa-
tion, to-wit:
(a) A history of the applicant including a description
of its operations.
(b) Historical financial statistics of applicant for
the last five (5) years or for the entire time it
has conducted business. If the applicant is pro-
posing co-signers or guarantors of the bond issue,
this same historical financial data must be supplied
for the co-signers or guarantors.
(c) A written report from the applicant' s principal
banker concerning the applicant ' s financial posi-
tion and ability to meet the expense of the pro-
posed bond issue. The applicant should also provide
a Dunn and Bradstreet Report or other equivalent
national rating of its financial position.
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'31-1" 900 1821624
3 -s
(d) Major customers of applicant and the annual
sales to each for the preceding two (2) years .
(e) A resume of principals and key employees of appli-
cant, including directors and officers, if applicant
is a corporation.
(f) Applicant' s pro forma balance sheets, income state-
ments and cash flow projections for the next five (5)
years, reflecting the proposed revenue bond issue.
(g) Applicant' s prepared financial statements dated
within sixty (60) days of the application date.
(h) Copies of the applicant ' s financial statements,
either audited or otherwise satisfactory to the
County, for the preceding five (5) years or the
entire time during which the applicant has con-
ducted business.
(i) Complete list of assets to be purchased or con-
structed and expenses incidental to the acquisi-
tion, including costs of the sale of the revenue
bonds.
(j ) A payment schedule or formula for retirement of
the bonds and payment in lieu of taxes and cost
of maintaining project in good repair and properly
insured.
3. 4 An initial application fee of $500 . 00 to defray the
costs of the County analysis of the proposal as set forth
in Section 4 of this Ordinance shall be tendered with
the application.
3. 5 Other information specifically desired by the Board not
set forth above.
3. 6 The Board, by majority vote, may waive specific informa-
tion required in the written application for new con-
cerns that have not been in operation for the last
five (5) years. The Board, however, may request addi-
tional information in lieu of the information waived.
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000( 16 16:2,4
SECTION 4 . COUNTY REVIEW OF APPLICATION
At such time as the applicant has provided all of the
required information and met all of the above stated requirements ,
the County shall conduct an analysis of the information and the
suitability of the proposal for implementation under this
Ordinance.
4 .1 A County review team shall be responsible for
analyzing the application and making recommendations
to the Board of County Commissioners concerning the
advisability of proceeding with the proposed bond
issue. The review team shall consist of the County
Finance Officer, the County Planner, and the County
Attorney. In addition, the review team may engage
outside counsel for the purpose of rendering opinions
and doing research on the proposed bond issue.
4 . 2 The recommendation of the review team shall include
an analysis of the impact of the development upon
the County, and upon any other interested municipal
governments . The form of agreement for any required
off-site improvements shall also be recommended by
the review team to the Board of County Commissioners .
The review team may recommend that certain conditions
be placed upon the applicant to further insure the
repayment of the bonds, and may recommend that the
applicant provide guaranteed construction contract
or a completion bond prior to undertaking the proposed
project.
4 . 3 At such time that the review team has presented its
recommendation, impact analysis, and off-site improve-
ment agreement to the Board and to the applicant, the
Board shall schedule a public hearing for the purpose
of discussing the application and considering public
comment on the proposed bond issue. At the close of
such public hearing, the Board may determine whether
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oO9n0 1821624
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or not to proceed to issue the bonds and shall adopt
a resolution formally declaring its intent.
4. 4 If the Board of County Commissioners has considered the
application and the report from the review team, has
conducted a public hearing on the application, and has
adopted a resolution of intent to issue the proposed
bonds, it shall direct the review team to prepare the
bond issue. The review team will work with the appli-
cant and with an investment banker and bond counsel
suitable to the applicant and to the County.
SECTION 5. ADDITIONAL FEES UPON ADOPTION OF RESOLUTION OF INTENT
TO ISSUE
Upon adoption of a resolution of intent to issue the bonds
pursuant to Section 4. 4 of this Ordinance, a fee in addition to
the fee specified in Section 3. 4 of this Ordinance will be assessed
against the applicant in order to defray the cost to Weld County
of processing and issuing the industrial revenue bonds.
5. 1 Upon adoption of the resolution of intent to issue the
bonds, a fee in addition to the fee provided in Section
3. 4 shall be assessed in the amount of one percent (1%)
of the total bond issue. Such fee shall be paid to
the Weld County Government within thirty (30) days
of the date of such resolution to defray the cost of
processing of the bond issuance, legal counsel, etc .
5. 2 The minimum charge pursuant to 4 . 1 of this Ordinance
shall be $5, 000. 00 and the maximum charge shall be the
sum of $25,000. 00, and such fees shall be assessed
regardless of whether or not such bonds are ever issued
or sold.
SECTION 6. VALIDITY OF ORDINANCE
6. 1 If any section, subsection, paragraph, sentence, clause
or phrase of this Ordinance is, for any reason, held or
decided to be invalid or unconstitutional, such decision
shall not affect the validity of the remaining portions.
6. 2 The Board of County Commissioners of Weld County, Colo-
rado hereby declare that it would have passed this
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g°° 900 1821624
3 - b'
Ordinance and each and every section, subsection,
paragraph, sentence, clause and phrase thereof irre-
spective of the fact that any one or more sections ,
subsections, paragraphs, sentences, clauses, or
phrases might be declared to be unconstitutional or
invalid.
SECTION 7 . EFFECTIVE DATE
7. 1 This Ordinance shall take effect five (5) days after
its final publication, as provided by Section 3-14 (2)
of the Weld County Home Rule Charter.
The above and foregoing Ordinance No. 69 was, on motion duly
made and seconded, adopted by the following vote on the 7tn day
of April , A.D. , 1980.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTX, COLORADO
( h u c
C. . Kirby,/ Ch
airman
Ltt -&SL c: 20-zt
Leonard L. Roe, Pro-Tem
l
Norman Carlson
un ar
/'-
e K. Ste nmar\-11ATTEST. /�';.�..-i' -s,.:.n,-iA..;. +,.r�, l:n.f
F
Weld County Clerk and Recorder
and-clerk to the Boa
/.
K___ By
. --
'�_�_
% putt' Cou erk
AP ED AS_T F RM:
County Attorney
PRESENTED: APRIL 7, 1980
PUBLISHED: APRIL 10, 1980 in the Johnstown Breeze
-8-
{ >•fi0N NI tat the•g sMnns%trhllinACounty
M Ity Development Rev.
1�AMN6 env Act to Industries
1 ` located in other parts
WIEIMANCENO.ge of to of.Colorado ff the AFFIDAVIT OF PUBLICATION
E ,re -ef such act is to induce
re of these industries from
-IDN, - the nt location. THE JOHNSTOWN BREEZE
9{ ANIi i. ' county declares its STATE OF COLORADO )
.A rfrs
CO NYE_NTY in to require payments in
YL Ile d valorem real estate ) SS.
but any project in the same. COUNTY OF WELD )
. - am -and manner as if the
of the real estate I, Eugene Thomas, do solemnly swear
1n private hands publisher of The Johnstown
8 WELD THE the ty in the owneraNp of that I am
vOR4Do: Breeze; that the same is a weekly
t.e The County will require newspaper printed,in whole or in part,and
. SMOG No.26, Inf. . turn and proof of such
aty Develp maiA. necessary to establish published in the County of Weld, State of
p y for the w fide purposes of the Colorado, and has a general circulation
;;. CplOrado wed t while not unneceaear-
Apand1978. df{ ; ll •ve disadvantage of the therein; that said newspaper has been
to tt o and a• t, published continuously and uninterrupted-
d'u1 endmenf j -The Count will, in yin said County of Weld for a period of
No.� County g its duties, seek to more than fifty-two consecutive weeks
Revenue Bon sand enlarge the good
thel paw
day of potation of the county. prior to the firs publication of the annexed
t aterlal supplied under legal notice or advertisement; that said
t w the owing sections of this newspaper has been admitted to the
pvitua O ce shall become the United States mails as second-class matter
iteV�fiW. e n oioalnty y of• the shall d County
torch In Section
relent and be public under the provisions of the Act of March 3,
,�q�C. .8. W7g as r 1879,or any amendments thereof,and that
,ipe 3eu ito(Eelld to CT ION .COUNTY
Issue
kvlinitial NNINGCRTTERIA said newspaper is a weekly newspaper
.and ,llpropgeeapsojeozssnan duly qualified for publishing legal notices
the Beard of - and advertisements within the meaning of
Cesdance with and shall
z ok *hate of roar :incepts and the laws of the State of Colorado.
.to repeal and ves-Mr lopment as
amendments, in .e County's That the annexed legal notice or
and for the pensive Master Plan advertisement
.the 1NNbttanti of comprehensive plan of was published i n the
eed• r the orpoiated Item orCity It regular and entire issue of every number of
of their ands per- oorrf°witinththreee(31omtleeas said weekly newspaper for the period of
t ,` or corporate limits of such
.
- BEFORE, BE ITcis ..../......consecutive insertions; and that the
the .bare of ', The property on which any first publication of said notice was in the
fit OtW deflitd- "project is to be located
trite a No. The within the corporate
aiac be and '• ries of Weld Counfv and issue of said newspaper dated /-!fir 70
must have aHMed
ea,"t; a; .a n'districtclassiffi of � A.D. 19 b , and that the last publication
:.rated the CCityt or Town of said notice was in the issue of said
D RATION
newspaper
. e proposed
1170V44. t use.
ptECIA dated ALP h10 A.D. 19 C(0
;The pis for the proposed In witness whereof I have hereunto set
F ler'e6 to ba the t emu be in strict
Of Weld, ce with appropriate
..f •,' toed age and subdivision re a- my hand this/Hit day of AOlk
'eleea to or f Weld County and o any
`at natntlf�m8. rated City or Town, it
twtnt project will be located A.D. 19 0
a' ' t ra, ' ;and ththat the corporate limits of
t revs- .City or Town.
to tlrc 1 7
{The Cainty,in consultation �.(�Q,�. �'Wyl-y2�
Mors bend
ndtyact munlcl jtiee and ter- ✓�/"
" A�jesc¢ n y s.fui et will review and aster- Publisher.
'''''7,-.41.--i..7 Wfa, at an tended. tse adeqvices ppriorr to t water and
hi ted m services
of ri-County commie
' of dry Subscribed and sworn to before me. a
ea tendt�e 'The proposed project plans Notary Public in and for the County of
end SSW be reviewed and ana ysed i,ii•
tl'°I esaate l� the county to determine Weld,State of Colorado, this day
:4"'-'4'.'7- polio- We
off-site capital int-
ry • ppenvirosunen tal menta 1ncludins. but not 944-rt-e-
•wis h aerlon a to,de streetti curb.. of ( A.D. 1 �P uch° 3ib l eft re, sldewalka utility eaee-
• OyII asnd , •water and sewer lines `
a'tu � rile traffic
ifi control devices.
analysts :ti.n;e„. /
t .in the be:,efit comments offered by any Notary Public.
... . . Weld rated City, Town and
. n an. or the promotion of sSccht�odpl District which may be
safety, welfare, convent- attested by the project. Such My expires.,6:// ,'../.91/
ene•
eand Prwperity. rara�aapWooryrtUeif�ns la for the purpose of
mice of thepohey set tio4nissttoners Board
impact of
Section 1, the Board stirdevelopment upon other
t: - municipal services and faclh-
'' ties The determination of which
e -aeat'd of County parties shall bear the cost of any
Meta will Make all required off-site improvements
detereilhattons'of the shill be set forth In an
d b ttyy of projects and will agreement between all parties
net delegate Uus determination in Interest prior to the consider-
to any agent, contractor or anon by the Board of County
employee of the County. Commissioners of a resolution of
---- - intent to issue bonds for the
project.
I]
SECTION 3 APPLICATION
REQUIREMENTS Uf ,
In order to process at If 3t tI SECTION I. OF
Properly ORDINANCE
and consider pro
ctatlons to
issue rein,cbonds rtainpro-Sects set forth above to the al. I ally 'Beatnik subsea_
herein,certain cri rib,proved- lion
ores guidelines and require- an Ye c paragraph, - sentence,
mss shall be applicants
d and a�.mitt�•a��� a n iii,f Pale a thion, ens or
submitted by the followed as aura;q W. linr� for dIDtm1deesdd,,�tttonforbe I valid o bald n-
set forth below: tation r ibis Mini affect t e vdecisionns L
3.1 Legal OpWon from an �t 8e!![e0t a vaSIf;
ty of tl
motto .who is a qualified 54tl be: rOrtY leaf_ m. remaining portions.
Pal bend counsel" - 8.7 The Board. fCoualy`thetabl app the Bloaafd a4 mmisatonea of WdCoon tO
w1Wn tali mteM er lorado herbydecre that 7t:cwould have.passed is Ordkt-:Revenue Bond Act. eYMpy lete anduse d evarh. Ttte re section subsection, aragrentenceddse ad _ e fact3.g Evidence Mat they shall f M�ea t)' thereof irre c to
bond issue can be gold Flamer cer,. the;. Y spe tivef a factan ac ble underwirte� is y, In Me Mat nc oneor mo aectlona,
nan experienced ln for dr my. In additipp the'.nuwde might t�pna, . be unohs of team tttav dmsl setution s, clauses, rpltriaeera
might ba declared tbeuncon-
83 A w'tltWn.' application �}ife trinestitutioaal ormvalttl
containing
motion, the .:following Wm f e alt on ttM�>�n bond
SECTION 7.EFFECTIVE
DATE
includingA °f the applicant 4-f recommeeandathat of
rryY PP team shall abide an
7,l This Ordinance ahal take a description of its •aa�11•r1yepte M .hall etYect five(6)da
operations. e•stelOpnnent upon t]wat,Countq ppublicati:1i:ow:joie asYsprovldfl PUMA
1
Section 31of yy
(bf appl canit finfor th l st Am any Other nts. aC''aouunnty Rule Chhaarter.ticsof applicant for the last lies ctpat i an _ e(5)yeaars oorforte enter `tfsite y 'hie andfn motiona plicant eted ,, If the � rerecten endeed ydWjvnance3wasseconded,I suers[paransam of_hiise b$W go' pmMl�itB TheaAeete maria ;vote ontale e Ms5'th_ day of APn4 A.Dip3p;
financial data must be su review team may recommend
for the co-signers Or gua certainpplicaone be placed OF
-the applicant to thither BOARD OF
F8Y COUNTY
(c)A written aoort from the the re meat of theRS
aMicant's a llppaall banl[er and f v recommend K'ELD
concerning the applicant's fl ern provide guar- COLORADd
nano's' position and agility to d eopnsDactio n contractor C.W.K1rbv, pro
meet the expense M the PIM • °ampletlon bond prior to Leonard it.Roe'poeed Mould
lime.provide
•- 1ant. WMettaXing the proposedPro- Normman Csrlsat
equivaSratieflrlent national traDOr o and 'Ma4.g/
At such time that the June R.3teln�inaark
financial t aiti n. review team has presented its
recommendation,impact analy- We Ma Am Feueroteln
(d)Motor customers of apply and oft eta improvement Clerk
cant and the annual males to meat to the Boats eta M Recoar and
each for the preceding.:two (f).. leant, the Board shall to the,Boar l
years. _. /'�M�eea a public hearing for the Jy CuntClerk
key)employees principals andant, -ego t de prof Obtain&opose la OePaty County Clerk-Ordway
Including directors and officers, . issue-At the close of such public APPROVED A3 TO,FORM
if applicant Is a cdrporation. kP•fa�rslistatite Hoard may deter- Thomas O David -,
Cos(1) Aplicant's pro forma to Ste the r or
t to
shall ES Attorneyoceed
balance sheets, income.state-. :War: resolution formally PRESENTED: APRIL 7,1330
merits and cash flow projections OeeLring its Intent. PUBLISHED APRIL 10,1380 In
for the next five (6) the Johnstown Breen ,
reflecting the proposed revenue 4.4 If the Board of County Cw`I.e 'W-2k$ree -'„
bond issue. CCwata kthalmMnern has considered
lr application and the report
(g) Applicant's prepared l- from the review team ' one
nancial statements dated win emanated a public son
sixty(60)days of the application Wa3Wteatio and has adopted
date. - a restitution of intent to issue the
pin* :ie-bomb, it shall direct
(h) Copies of the applicant's me review team td prepare the
financial- statements, either best Issue-The review team will
audited or otherwise-satisfac- work with the applicant and with
Cory to the County, for the 'an investment binker and bond
preceding five (5) years or'the unsel suitable to the applicant
entire time during which the anal=th,e Cmmty
applicant has conducted bust-
netts. -'. N 6. ADDITIONAL
UPON ADOPTION OF
(1)chaseete list. tr assets to UTtON OF IN'Ih;NT TO
be purchased or constructedand ISSUE
the
expenses
c4 isiittiion,�includNg costs of Moen ad tie Issu rllrersolul Lids
the sale of the rebenue bonds.. o[ t to Section 4.4 of this
(j) A_Payment schedule or. ce, a teem addition to
formulpr retirement of the. ceed Section 3.4 of
bonds and payment m lieu of assumed
taxes and cost of maintaining against the applicant In order to
project in good repair and defray the at ft.Weld County
properly insured. anginal 4{go revenue bends.dng and issuing the
sCo3..44 An initial application fee p of
to defray-lite costs of the 5.1 duce *Option
as setyfo arm 9of the
r i of this resolution of maa�ta tt to issu�ee the
Ordinance shall be tendered provided in Braun 3.4-ehall be
with the application, asceued-in the amount of one
percent(1 percent)of the total
3.6 Other Information specif- bond issue Such fee shall be
tcaliy desired by the Board not m ecwithin thirty
to the Weld County Govern
set forts above. methe date of such presoluNp to
to
3.8 The Board, by majority the defray the
cost of
Ie l�ee�asalinnunsse8 of
vote may waive,specific infor- etc:
motion required in the written
application for ,new .concerns 6,2 The minimum charg
e
have not been m operation(
for the last five (5) years. The bpursumago 4.1 of this Ordinance
Board, however, may request shall be $5,000.00and the
additional information In lieu of maximum a char shall be the
.the information waived. sum of 326,,000,00 and such fees
shall be assessed regardless of
whether or not such bonds are
ever issued or sold.
- 1i
Affidavit of Publication
STATE OF COLORADO, 1 ss Page 20 LEADER-HERALD
County of Weld, 3 • f� ` In furtherance of the policy set
• • s Il (7 forth in Section 1, the Board
I. \192-21-(2,42.7t
21'(2 A -- of s T es that Board
fib C Al� .1 T i 1.1 The of County Commis-
•
sioners will make all necessary
determinations of the desirability
said County of Weld, being duly worn, say that of projects and will not delegate
I am_publisher of
0 0n7TI✓.221C�)Jeh<td this determination r l any agent,•{ SECONDRDINREADINGNO.6, Contractor or employee of the
,�,a- A-a.C.— `Xe.0-��? � ORDINANCE NO.69 County.
IN THE MATTER CIF THE 1.2 The County will not employ the
that the same is a weekly newspaper of general REPEAL AND RE-ENACTMENT, provisions of the 1967 County and
circulation and printed and published in the WITH AMENDMENTS/OF OROf. Municipality Development.Reve-
�> NANCE NO. 25 AND '43, ADOP. nue bond Act to industries presently
<town of r-e1✓S,!-f-✓..Sat1 _ TION OF A COUNTY'DEVELOP- located in other parts of the State of
MENT REVENUE BOND POLICY Colorado if the result of such act is
in said county and state; that the notice or adverer. FOR WELD COUNTY, SOLO+ to induce removal of these indus-
tisement, of which the annexed is a true copy. RAC' hies from their present location.
BE IT ORDAINED BY THE 3.3 The County declares its
has been published in surd weekly newspaper BOARD OF COUNTY COMMIS intention to require payments in
SIGNERS OF WELD COUNTY, lieu of ad valorem real estate taxes
far -. _ consecutive ,COLORADO; on any project In the same amount
weeks: that the notice was published in the WHEREAS, Ordinance No. 25, and manner as if the ownership of
Adoption of a County Developpment the real estate remained In private
regular and entire issue of every number of said Revenue Bond Polley for Weld hands rather than in the ownership
newspaper during the pure! County, Colorado, was previously of th County.
period and time of passed and adopted on the 3n ay 1.6 The County will require
cation of said notice and in the newspaper of April, 1970,;and Information and proof of such
proper and not in a supplement thereof: Ihol the WXER EA5. Ordinance No. 63, In matters necessary to establish the
Me Matter of an Amentlment b bona fide purposes of the applicant,
first publication of said notice was contained in Ordinance No.25,County Develop- while not unnecessarily divulging
the issue of said ewspaper bearing date, the ment Revenue Bond Policy, was information to the competitive
�'I previously passed and adopted on disadvantage of the applicant.
�..[. day of . dh-<'-�`—' A.D., 19g•r the 13th day of December.1975,and LS The County will,in performing
can.
WHEREAS, pursuant to the 19f7 Its'duties, seek to protect and
and the last publication thereof, in the issue 0, County and Municipality Develop- enlarge the good fiscal reputation
said n wspaper bearing date, the a9 q day c; ment Revenue Bond Act, as set of the County.
forth in Section 29-3-101, et seq., 1.6 Material supplied under the
-CLhC�+.- 19 SC, th t the said C.R.S. 1973, as amended, the following Sections of this Ordinance
� ' Ny it
,� County of Weld is authorised N shall aecome Ma property of the
(� �^^I issue industrial revenue bonds,and Weld County Government and shall .
�`�" WHEREAS,the Board of County be public records.
A OJT v le '� Commissioners of the County of SECTION 2.COUNTY PLANNING
Weld,State of Colorado,desires to CRITERIA
has been published continuously and uninterrupb
repeal and re-enact, with amend- -2.1 All proposed projects shall be
edly during the period of at least fifty-two con- ments,Ordinance No.25 and 43 for in accordance with and shall meet
secutive weeks next prior to the first issue thereof the benefit of the inhabitants of the goals,concepts and objectives
Weld County and for the promotion for development as set forth In the
containing said notice or advertisement above of their safety, welfare, eenveni- County's Comprehensive Master
referred to; and that said newspaper was of the ence,and prosperity. Plan,and the comprehensive plan
NOW, THEREFORE, BE .IT- of any Incorporated T0Wn or City if
time of each of the publications of said notice. ORDAINED by the Board of County such project will be located therein
duly qualified for that purpose within the mean-
Commissioners of Weld County, or within three (3) miles of the
Colorado that Ordinance No.25 and corporate limits of such Town or
ing of an act, entitled, "An Act Concerning Legal Ordinance No.63,previously mac- City..
Notices, Advertisements and Publications, and ted, be, and hereby are, repealed 2.2 The property on which any
and re-enacted with amendments such project Is to be located must
the Fees of Printers and Publishers thereof, and as follows: be within the corporate boundaries
to Repeal all Acts and Parts of Acts in Conflict SECTION 1.DECLARATION OF of Weld County and such property
with the Provisions of this Act," approved April 7, POLICY must have affixed thereto a zoning
It is hereby declared to be the district classification of the County
1921, and all amendments thereof, and particu- policy of the County of Weld,State or of an Incorporated City er Town
tail as amended by an act of Colorado, to encourage the whichpermits the proposed project
Yapproved, March 30, location,relocation,or expansion of use.
1923, and an act approved May 18, 1931. manufacturing,industrial or cow: .2.3 The plans for the proposed mercial enterprises within the project shall be in strict compliance
/gyp �J corporate limits of the county,and with appropriate zoning,and subdl-
.-.L�/ to that end to issue development vision regulations of Weld County
Cad
revenue bonds pursuant to the 1%7 and of any incorporated..City or
-- --- P fisher County and Municipality Develop- Town,if such project will betecated
�T ment Revenue Bond Act, as set within the corporate limits of such
Subscribe and sworn to before me this .J l forth in Section 29.3.101, et. sop., City or Town.
'e �j' C.R.5. 1973, as amended. This 2.4 The County, in consultation�day of _ _. - g A.D. 194_-%2 policy is adopted in furtherance of
the primary objectives to mitigate
the serious threat of extensive
unemployment,to secure and main
/fie-o�/a. (tL((.L��j__ �(.®l��J Lain a balanced and stable econo-
m
y,//
my, to ameliorate pollution and
/�_ 7-4l.-2 other enviidnmental problems and
My commission expires to provide for the public welfare.
Notary Public All such action provided under this
policy, as set forth herein In
Sections land 3,shall be taken only
when the same is exercised for the
benefit of the inhabitants of Weld
County and for the promotion of
their safety, welfare, convenience
and prosperity.
March 2?, 1990.
\,t 'e' i I •' •
~ �7•. - SECTION 5.FEES UPON ISSU-
e ANCEOF INDUSTRIAL REVE-
�. �,NUE BONDS
If industrial revenue bonds art
issued pursuant to Section 4.4 of fhb
nab.Inwleipalalas and districts, Ordinance,a fee in addition to lbs
will review and determine the
fee ed in Section 3.4 of this
adequacy Y 01 water and sewer Ordinance will be assessed against
Services prier Ho approval by the the applicant in order to protesting
Beard a Cerny Commissioners. • cost to Weld County of protest
2.5 The proposed project plans (Ili Applicant's pro forma balance and issuing the industrial renews
Webe reviewed and analyzed by sheets,income statements and cash - bonds.
me County to destining necessary flow protections for the next five 5.1 Ii the bonds are issued,a fee in
offal%capital Improvements Mcly- (5) years, reflecting the proposed - addition to the fee provided in
ding, but not limited to, streets, revenue bond issue. fRA7/BN S.AOOI Ai{r�FEBf Section 3.4 shall be assessed in the
curbs, gutters, sidewalks, utility (0)Applicant's prepared financial DhOR ADOPTfOH Tilt
JtEWL4t amount of one percent(1%)of the
eesements,wear and sewer lines statements dated within.sixty(60) TSOF INTE TO SUE total bond issue.Such fee shall be
and traffic control devices. SUM days of the application date. line apepttae 9f a ri eelvNOn 04 paid to the Weld County Govern.
review.shall include analysis and the Copies of the applicant's inteetlifisuethltbeedspursuaritth ment to defray the cost of
comments offered by any Inconper• financial statements,~audited feeRoa 4.4 Of this Ortititene,a lee processing of the bond issuance,
We City,Town and School District or otherwise satisfactory to the le SSW faiths fee specified le legal counsel,etc.
which may be affected by the Catty,;for the preceding five (S) Sq f.4 of this Ordnance will ho 5.2 If the industrial revenue bonds
prefect. Such analysis is for the roars or the entire time during asSeeeed againstlba appllunt la are issued pursuant to Section 4.I of
purllaeof repwnegtothe Babb which the applicant Ms codducte " eider t+ okay lid Sept h W,e are
Ordinance, the minimum
Comfy Commissioners the impact Besfaess. Casey st pse4asfiflg,+rid Ifsulpg charge pursuant to 5.1 of this
el such development upon the industrial revenue bonds.p other (I) Complete list s assets to be. S i upenadoptten efthe resoutia maximum shall be hall be e the
theinu deter) services and facilities. exp rises incidental t t the ad antl of MNptte issue the bonds a fee m maximum charge atoll ba ten sum
1st lbear tnetlon W Which.terra eHepanses cost to a ale o- - «fSECTIO
shall boar the cost of anya be et Hen,including costs oftheW- sale of SIONWeise to till bbl provided in SECTION b.VALIDITY OF
ONalte improvements shall be sot the revenue bonds. Settles 3.4 Shall be leased In the ORDINANCE
forth In an agreement between all (I)A payment schedule or formula angst ef one percent(1%)of the 6.1 If any section, subsection,
parties in interest prior to the ter retirement of the bonds and Met hand Issue.Such fee shag be paragraph, sentence, clause or
coati ion by the Board of payment in lieu of taxes and cost of paid to the Weld County Govern- pease of this Ordinance is,for any
County Commissioners of a resolu- neimalning project in good repair meet within thirty(30)days of the reason,held or decided to be invalid
ten of i to Issue bonds far the and properly insured. detest suchresolutunto defray theor unconstitutional, such decision
cat of processing W the'bee.protect. e An initial application fee refem not port the validity of the
SECTIONI APPLICATION NN.N to defray the costs is as it 2Th e,minegalimum
counsel,retc. remaining portions.
REQUIREMENTS IYuetY analysis of the rS.S The minimem charge pursuant
animism asion rs Board of County Commts.
le 4.1 W'Mis Ordinance shall ba Sn order to s process and Or c in Section 4 of thish of ar It t Colorado
outsider rrojappHtaHont to herein,
bonds Ordinance shall be tenderedwith skiN.N and la maximum charge d hereby isdeclare that andwoulda h.nr,
for projects e forth Mralnitestae the application. Skill be the sorb of$25,000.00,reand passe this ion,Ordinancectieach and
relent,procedures, followed and 3.5 Omer information Board n specifically lath fees shall or assessed red rids every sentenc clause aind,hrase
rowalrements shall be allowed and above. Icy the not set forts less et whether not such bags the eo sentence,cause antl opt aril,
submitted by the applicants as set nbaa. are ever issued er sold. thereof irrespective of Me tact IMf
forth below: 3.6 The Board, by m+jform vote, upon any other Interest municipal any one or more sections, subset.
3.1 Legal opinion from an attorney may waive sewciiit information governments. The form of agree- hens, paragraphs, sentences,clan
who is a qualified municipal bond rewired in the written application moat for any lrequired off-sit. saw phrases might be declared le
ceensel, acceptable to the Board, for new concerns that have not mendedimprovements shall also be recom- be unconstitutional or invalid-
sal that the applicant's prop- beep a operation for the last five melded by the review ham.to the SECTION f.EFFECTIVE DATE
sal falls within the Intent and (5) years. The !Verde however, Beam of County Commissioners. This Ordinance shall take
meeting of the Economic Develop- may requestof gadditional infer nation The review team-may.recommend effect five (5) days after ifs final
meet Revenue Bond Act. . In We of the information waived. that certain conditions be placed publication,as provided by Section
3.2 Evidence proposed SECTION 4.COUNTY REVIEW nupon the applicant 10 further insure 3.14(2) of the Weld County Nome
lose Issue can be sold through an OF APPLICATION repayment of the bonds, andRule Charter.
acceptable underwriter or to an At seek time as the applicant has may-recommend that the applicant The above and foregoing Ora-
experienced investor or group of provided all of the required provide gua raateed construction' nine! No.69 was, on motion duty
investors. Inferietation and met all of Me contract or a complethe
pro bond prier made and seconded,adopted by
9A above A written application contain- above state requirements, the le undertaking the premed pr- following vote on Me--day of
lag the following information, Cagey Mali conduct an analysis of Ile. A.D., 19N.
to-wit: the inferMation and the suitability4.3 At such time that its recommit,-
review BOAR D OF COUNTY
(a) A history of its- applicant of the proposal for implementation ham has presented its recommit,- COMMISSIONERS
including a description of its under this Ordinance. im o4 impact analysis,and off-site WELD COUNTY,COLORADO
operations. im- 4.1 A County review teem shall be provement merit to the
(N Historical financial statistics responsible for analyzing the awn- Board and to Me applicant; the C.W.Kirby,Chairman
of applicant for the last five.(5) cation and making recommend*- Board shall schedule a public
yews or for the e entire timeit has Hens to the Board of County hearing for the purpose of discus- Leonard L.Roe,Pro-Ten
pdupted business.If MN
the applicant Comnsiey nets concerning the ad- sing the application and consider-
Ii "-
Is proposing co-signers or guaran- viIHy of proceeding with the leg public comment on the pro- Norman Carlson,Chairman
tors of the bond issue, this same teampremed bond issue. The review posed bond issue. At the close of
historical financial data must be team shall consist of its County such public Waring,the Board may Lydia Dunbar
supplied for the co-signers et Finance Officer,the County Plan- determine ne whether or lot ro
gewealpre. Sew. tee the County Attorney.. In proceed to issue the bonds and shall June K.Shiner►
(c) A written report from the addition, the review s team stay adopt a resolution formally tleClar• ATTEST:
applicant's principal banker con- engage outside cduosel for•the i4.ng its intent. and Clerk fo the B and Recorder
mat the applicant's financial purpose of rendering opinions and has s If the Board ofthe Comcation and s and fo the Board
position and ability to meet the doing research on the propWd report epoidered application team. By:
expense of the proposed bond Issue. bee leeee. its from the review Deputy County Clerk'
The applicant should also provides 4.2 The recommendation of the has conducted a public hearing on APPROVED AS TO FORM:
the application,and has adopted a
Dunn and Bradstreet Report or review team shall Include an
ether equivalent national rating of 'nev % of the impact of the resolution of intent to issue the County Attorney
its financial position. develepmsnt upon the County,and review team
bonds,It shall direct end DATED: FEBRUARY he v0, lHe ,
Id)Major customers of applicant review team to prepare the bond Published S Salle the Platteville rsray,
and the annual sales to each for the - with The review a team will with work and La 27, 19 Leader Thursday,
(2) investment the applicant and an March 1980.
preceding) two of years.. - elsuitable the
and bond teen-
ml lo resume l of principals lnt, anu kng eel to the applicant and to
employees officers,
if includingli tg ounly. - - — -
directors and if applicant ---- --is a corporation.
- -_ li
Affidavit of Publication Legal o 1.2 The County will not employ the
Notices provisions of the 1967 County and
FIRST READING Municipality-De,elopment Rove-
ORDINANCE NO.69 nue bond Act to industries presently
STATE OF COLORADO, 1 IN THE MATTER dF THE located In ether parts of thestateof
ss. REPEAL AND RE-ENACTMENT, Colorado if the result of such act is
WITH AMENDMENTS,OF ORDI• to induce removal of these Indus.
County of Weld, NANCE NO. 25 AND 43, ADOP- hies from-their present location.
,� TION OF A COUNTY DEVELOP- 1.3 The County declares its
MENT REVENUE BOND POLICY intention to require payments in
I, ::�,/a,.:L-fc. )QJ+0f+ 4 of FOR WELD COUNTY, COLO- lieu NN valorem real estate taxes
RADO. on any prosiest in Me same amount
BE IT ORDAINED BY THE and manner as if the ownership of
said County of Weld, being duly sworn, say that BOARD'OF COUNTY COMMIS• the real estate remained in private
I am publisher of l hands rather than in the ownership
�-k,c c i C e A4Ph a C._( SIGNORS COLORADO:
��OF WELD COUNTY, of the County.
„ 'iS. - (C1 et 'R vJiP-L.-_-. WHEREAS, Ordinance No. 25, 1.4 The County will require
AB1PiNn ef a County Development information and proof of such
that the same is a weekly newspaper of general Revenue Bond Polley for Weld matters necessary to establish the
circulation anq. rioted and published in the Eep111y Col was preview* bona fide purposes of the applicant,
� paged and adopted on the 3rd day while not unnecessarily divulging
town of -.:x...c.A `.Lit. etc..'_. el April, 1975,and information to the.competitive
WHEREAS, Ordinance No. a la disadvantage of the applicant.
in said county and state; that the notice or adver- the Matter of an Amendment N IS The County will,in performing
tisement, of which the annexed is a true copy, Ordinance No.25,County Develop- ,its duties, seek to protect and
has been published in said weekly newspaper must Revenue Bond Policy, was enlarge the good fiscal reputation
review*passed and adopted en the County.
for ___-_. __.---- consecutive the 13th day of December,1975,and 1.6 Material supplied under Me
WHEREAS, pursuant to the 1967 following Sections of this Ordinance
weeks; that the notice was published in the County and Municipality Develop- shall become the property of the
Met Revenue Bond Act, as son Weld County Government and shall
regular and entire issue of every number of saidbe public records.
newspaper during the WO in nation as 29 J 10n, ose SECTION 2.COUNTY PLANNING
period and time of publi- C.O.S.mitt' of Weld amended, the
cation of said notice and in the newspaper gigI is authorized Se 2.1 All promoted
gig Industrial revenue bonds,andp ncend projects shall be
proper and not in a supplement thereof; that the WHEREAS,the Board of County ' in egoals, on with and shall meet
first publication of said notice was contained in OHnmMMete ors of the County el ��el rent tsas and objectives
Wend,Mete of Colorado, MNw to development as set forth in the
the issue of soldnewspaper bearing date. the ropsel and raanact, with amend• County's Comprehensive Master
( the benefit Ordinance No.23 and p for Plan,and the comprehensive plan
�•� day of - ..�4-4_r'l A.D., 19v • the benefit of the inhabitants of of any incorporated Town or City if
- YPMd County and for the promotion such project will be located therein
and the last publication thereof, in the issue of N Moir safety, welfare, convert- or within three (31 miles of Me
said newspaper bearing dote, the i-.9 day of Nee,and prosperity, corporate limits of such Town or
,1 W. THEREFORE, BE IT City.
-d-}l -C 1`-' 19(J-`:.; that the said OEOAA$$EO by the Beard of County 2.2 The property.on which any
'yl,eeizCn; Y-idee Ntir tie OIMMIWoMf N Weld Costly, such project Is to be located must
Md at Ordinance Ni.No.M be within the corporate boundaries
-71 =that
IN.A,previously son. of Wend County and such property
a �"�,.'rQ de f.._ f ea.CX`e _.._-... be,and hereby arc eeded must have Waxed thereto a seeing
SS n has been published continuously and uninterrupt- reenacted with amendments district classifkation of the County
during the period of at least fifty-two con- Os-follows: or of n incorporated City or Town
edly dly de weeks nextWOMB 1.DECLARATION OF permits theproposed prefect
prior'to the first issue thereof POLICY use.
H IS hereby declared to M 1M 2.3 The plpw for the proposed
containing said notice or advertisement above pet/of the County of Weld,Stole project shall he in strict compliance
referred to; and that said newspaper was at the of Cased*, to encourage the with appropriate zoning and solidi.
loeegen,nbution,or onionskin vision regulations of Weld County
time of each of the publications of said notice, ntMryrin9,Industrial rend o• and of any incorporated City or
oOW
duly qualified for that purpose within the mean- medal Ins within the Town•if such protect will be located
ing of an act, entitled, "An Act Concerning Legal oolsor51e limits of theCounty,and wiry n Me corporate limits of such
te Wit NM toInndeveloping, CI or Town.
Notices, Advertisements and Publications, and rooms bonds pursuant to tin 1967 2.4 The County, in consultation
the Fees of Printers and Publishers thereof, and Comely and Municipality Develop- with municipalities and districts,
me Revenue Bend Act, as ion will review and determine the
to Repeal all Acts and Parts of Acts in Conflict tot M Section 29.3.101, et. sins, adequacy of water and sewer
with the Provisions of this Act," approved April 7, C.B.S. 1973, as amended. This services prior to approval by the
le adopted In furthering el Board of County Commissioners.
1921, and all amendments thereof, and particu primary objection to niggle 2.5 The proposed project plans
laxly as amended by an act approved, March 30, MR ennui threat of extensive smell be reviewed and analyzed by
ohempoa dent,tit seam and main Me County to determine necessary
1923, and an act approved May 1.8, 1931. tole a BolaneM and slabie essito of-site capital improvements Iclu-
/'—� 7 -WA:
�L IRSIr 1s eMNH/nto eeNeMen and ding, but net limited to, streets,
(\\_C�/,F/- prelims and curbs, gutters, sidewalks, utility
L _ �g nde pevomiters. easeme easements,wager and sewer Les
P Usher es9fa11 provided udder thin and waffic control devices. Such
as set forth r la review Malflered analysis and
Subscribed red sworn to before me this �f� tend 3,'Mall be lams NMI atedCom City,
effete by any lnDarport
file the some Is exercised ter the ' which
City,Town end School bby the
pO of the inhabitants of Weld • may be affected for the
day of _. . .,Q/J/lL/ A.D., 19.dllprotect. Such analysis is the
and for the promotion el purpose ofmmi reinitiate the Board of •
- y/- safety, welfare, convenience County Commissioners the impact
2/04A to p/ i aln furtherance ce of the policy son of swh l s*.$ae tand upon other
._ /! .{ municipal Sery es facilities.
forth in Section 1, the BNId the determinaiim of which parties
••�� pp declares that; shall bear the cbtof any required
My commission expires 7/—! --e c,_ 1.1 The Board of County Commis- off-site improvements shall be set
sinners will make all necessary forth in an a� m between Notary Public determinations of the desirability parties in interest prior to the
of projects and will not delegate consi ion by the Board of
this ination to any agent, County Commissioners of a resolu-
contractor or employee of the tion of intent to issue bonds for the
County. - - project.
SECTION J.APPLICATION SECTION 4.COUNTY REVIEW REQUIREMENTS OF APPLICATION
in order to properly process and
At such time as the applicant has
consider applications to issue bonds provided all of the required SECTION 6.VALIDITY OF
for projects set forth herein,certain 1nlermaHen and mat all N the ORDINANCE
Criteria,procedures,guidelines and above requirements, the 6.1 If any section, subsection,
Canty shall conduct an analysis of sentence, clause or
requirements shall be followed and 'the inormation and the suitability submitted by the applicants as set phrase of this Ordinance is,for-any
of the proposal for implementation reason,held or decided to Orin: mild
forth slow:
3.1 Legal opinion from an attorney undion
4.1er
pM� ewe. or team shall be shall affect the validity ostitutional, such f who is a qualified municipal bond responsible for analysing the spell- ''remaining portion.
-counsel, acceptable to the Board, cation and making recommenda. 6.2 The Board of County Commis.
stating that the applicants propn• tions to the hoard of County Sinners of Weld County, Coloradosal falls within the Intent and Commissioners concerning the ad• hereby declare that it would onus
'meaning of the Economic Develop-- visa'Any of proceeding with the passed this Ordinance and each and
mono Redence Bond Acthe proposed bond issue. The review every section,subsection, para.
]'] Evidence th soldt the through proposed tonne shah.consist'of the County Malik,sentence,clause and phrase
bond issue can be an. FaunsCounty Officer,the Plan- Merest irrespective of the fact Mat
acceptable underwriter e. to an w, and the County Attorney. In Shy one or more sections, sunac-
nPef investor or group el addition,' the review team may Clans,paragraphs, sentences, clay
investors.3.3A
]•].A written application amain engage outside counsel for the b or phrases might be declared to
lag the following information, purpose of rendering opinions and S• CTIONitaflonel'or Invalid.
7tent: deism research on the proposed SECTION 7.EFFECTIVE DATE
bend issue. effect
This 457.r
rdinance shall take
fat ding a of the an of its 4.2 The recommendation of the five (5) days after its final
operations.
eratinf a IPtion of its review 'team shall include an publication,as provided by Section
aP(b) Historical applicant
the al statistics O) analysis of the impact of and Mute forlast five Charter.
opt any other interest municipal agree The above and foregoing Or01-
cndu conducted ter sin s.ltt a apme Is ant maarnmrnan The form N agree- No. 69 was, on motion duly
Isprop bueineu If or applicant meat for any required off-site ml seconded,adopted by the
Is proposing anda co-signers or morn• Improvements shall also n recom- g vote on the-day
ton of the bond issue,this saw mended by see review team to Me A.D., 1980.
historical financial *ski mist n Beard of County Commissioners. - BOARD OF COUNTY
for supplied for the co-s of
guarantees The review team may ced COMMISSIONERS
(cl A written repot from M! that certain conditions be placed WELD COUNTY,COLORADO
applicant's principal banker S. ropaeppliant to further insure
me repaymem of the bonds, and C.W.Kirby,Chairman
oeoning the aggNtMYs HMaedel may recommend that the applicant
pones and SEW to meat illie Provide guaranteed tl construction Leonard L.Roe,Pro-Tom
expos of Ms preneeminMBJaee, ceM actor a completion bond prior
Taw appEant sheen elepptevlpes le undertaking the proposed pro- 'Norman Carlson,Chairman
Duren and Sadslreet Repent er lest.
At such time that the review
ells{wleivalont Mental rang N Lydia Dunbar
its financial petition. team has presented Its recommen-
(di Maier customers of applicant donate,impact analysis,and off-site June K.Steinmark
and theannul sales to each ler the improvement agreement to the ATTEST:
preceding two(2)years. Beard and'to the applicant, the Weld County Clerk and Recorder
(al A resume N principals aMMW heard shall schedule a public amid Clerk to the Board
employees of applicant, including
Mean for the purpose of discus-
-employ directors and'talkers,11 apppeaht sing the application and consider- (Deputy County Clerk
is a corporation. leg public comment an the pro- 'APPROVED AS TO FORM:
Feted bond
(1)Applicant's pro forma Mince issue. At the close of
sheets,income statements and nth suck public hearing,the Board may County Attorney
flow projections for the neat five determine whether or lot to DATED: FEBRUARY 20, 1900
IS) years, reflecting the premised ..proceed to issue the bonds and shall Published In the Platteville Herald
adopt a resolution formally dealer- and La Salle Leader Thursday,
revenue issue.
(9)Appliant's prepared financial Yong its intent. March y, 1}00.
statements dated wining sixty(e) 1.1 if the Board a Commissionerstionand
days of the application date.
has considered Me application and
(h) Copies of the apPllcant's the report from the review team,conducted a publicearing 9n
financial statements,either audited Btu application,and hash adopted a
or otherwise satisfactory to the resolution-of intent to Issue the
County,for the preceding fin (S) prepeed bonds,it shall direct the
yours or the entire time dories review team to prepare the bond
whin the applicant has C0adacl—a hove.The review tam will work
business. wile the applicant and with an
(i) Complete list of assets ten investment banker and bond court-
purchased or constructed and sel tunable to the applicant and to
expenses incidental to the aequlei- iM County..
tion,including costs of the sale N SECTIONS.ADDITIONAL FEES
the revenue bonds. UPON ADOPTION OF RESOLU—
(pApaymentscheduleorfomWa TION OF INTENT TO ISSUE
for retirement of the bonds and Lima adoption of a resolution of
iin lieu of taxes and cell of intent to Issue the bonds pursuant to
naintaining project in good repair Senile 4.4 of this Ordinance,a fee
and properly insured. In felon to the fee specified in
JAM initial application ate of Mahn J;4 of this Ordinance will be
$300.00 to defray the costs N the seaweed against the applicant in
County analysis of the proposal as odor to defray the cost to Weld
set forth in Section c N this processing and issuing
Ordinance shall be tendered with CeuthM
MM ksstrsl revenue bonds.
the application.
3.5 Other information specifically LI Yam atlePNon.N Me resolution
Kw bonds,aloe in
desired by the Board not fat forthSOWN rotot ssue the fee provided In
above. 3.4 shall be assessed in the
3.6 The Board, by majority veto, Sala
may waive specific information ameontal one percent(1%)of the
required in the written application (t i- and ham. Such fee shall be
for new concerns that have not
paid to the Weld County Govern.
been in pearation for the last five ment within irty(30)days of The
date of such rhisolution to de(ra Me
(3) years. The Board, however,
may request additional infer nation Icoat et ProcesOnli Ca thu
sa ns ertce'lnB counsel.etc:
in lieu of the information waived. 5.2 The minimum charge pursuant
to 43 of this Ordinance shall ho
$1,000.00 and the maximum charge
shall bq the sum of$55.000.00,and
such fees shall be assessed regard-
less of whinier or not such bends
are ever issued or sold.
II
•
Affidavit of Publication
" 14 LEADER-HERALI
STATE OF COLORADO, 1
County of Weld, j ss. 1)1 11'1 I(
/ r
Yr) . _
lI :
1, _1___.>"_:.0...t-X--(1 . _ i - « BT CAUSE. THE
C 1.P<y/ of 1 r ridsaid County of Weld, being duly sworn, say that ..
I a ubhsher of yRST READING `
j,'� er of <(. c N@k2o c� -+q'; ORDINANCE NO.et •' t,, me Bo.roet
CC - County ecmmh-
, `t4 'W-r;f °4StL M Ct THE slimes make all ecKsaty
MENDRENTS,OF GRIN-ENT, ofdeterminations Projects
sand of desirabilitylea .
that the same is a weekly newspaper of general TM AMENDMENTS,OF ORDI•
-el pro terms will not delegate
circulation and printed and published in the NO. 25 AND '43, FLOP• this contractor or employee
to any agent,
' OF A COUNTY DEVELOP- or employee of the
town of ..� -lY. !!?‘.(It REVENUE BOND POLICY County.
- - • •WELD COUNTY, COLD- 1.2 The County will net employ the
in said county and state; that the notice or °dyeyer- IMOD. provident of the 1967 County and
tisement, of which the annexed is a true copy, II ITORDAINED BY THE Municipality Development Reve-
eIS OF COUNTY COMMIS- we bond Act toindusries pr sent*
Mille
has been published in said weekly newspaper ller OF WELD COUNTY, located in other parts of the State of
CD4ORADO: Colorado If the result of such act is
for -. ___ / . . consecutive t.WNEREAS, Ordinance No. 33, . to induce removal of these Indus-
weeks: that the notice was published in the Adhllten of a County Development hies from their present location.
*avenue Bond Polley for Weld 1.3 The County declares Its
regular and entire issue of every number of said Coady, Colorado, was previously intention to require payments In
newspaper the pleats and adopted on the 3rd a
during period and time of publr Y Ihupledvalorem samea taxes -
M .i97Li4nd - en any project in the same amount
cation of said notice and in the newspaper WIMREAS, Ordinance No. 43, in and mantras if the ownership of
proper and not in a supplement thereof; that the the Metter of an Amendment to the real-estate remained in private
adliillinee No.25,County Develop- hands rather than in the ownership
publication of said notice was contained in first West Revenue Bond Policy, was el the County.
the issue of said newspaper hearing date. the previously passed and adopted onvtlla P1.4 The County will requich
� v• / / )aNday(IfuKemkeL the and ec and o proof of such
P_. day of .._Y'.f (1 4 f r. •.•/, A.D., 19 O CMEREAd pursuant ty Develop
bona
fide
rpose f establish 1M
and the last publication t ere on the ssue of COWRY and Municipality as Ohi the purposes c sally divulging
meethi Revenue Bond Act,et sr while not unnecessarily the
o itive
said newspaper bearing dote, the day of forth C.R.S. Section 29-3-101, seq.. Information en to the competitive
C.R. . 1973, asaUamended, the diadvantaue of the applicant.
�1.e.(l"t.=f« 4�r 19!f�.; that the said Costly of Weld is ue bonds,
to • LS The County will,in performing
a rat✓i r( ( loots Industrial revenue bons,and its duties, seek to
< tie 4 Cr.t r( 'WHEREAS,the Board of County enlarge the good fiscalrreputation
4 �. ' ct'h of Eh Cemmisaienars of the County of of the County.
-. a ey- Weld,State of Colorado,desires to IA Material supplied under the
has been published continuously and uninterrupf- remit and re-enact, with amend- following Sections of this Ordinance
mint,Ordinance No.25 and 43 for shell become the
edly during the period of at least fifty-two con- .Net benefit of the inhabitants of property ma of its
secutive weeks next prior to the first issue thereof -Well County and for the promotion Weld Comte records. tantlfell
M t Mir safety, bs CTIO2COUNTY
containing said notice or advertisement above welfare, coeval- SECTION ICRITERYPLANNINO
cape,and HEREFO. CRITERIA
referred to; and that said newspaper was at the NOW, THEREFORE,Board BE La All proposed and
shall be
time of each of the publications of said notice. ORDAINED bylh Board of County ht accordance ls, with and shall meet
Creade Ordinance Wel County,n the gals, went as and objectives
Me
duly qualified for that purpose within the mean- O d ouncethatNo. 3,previously
usl 25 and ter development set forth in Me
ing of an act, entitled, "An Act Concerning Legal - led. e hereby previously enae- County's l the Comprehensive eMaster planbe,andwithrepealed
Notices, Advertisements and Publications, and line Mnachtl amendments M any incorporated Town or City if
the Fees of Printers and Publishers thereof, and as mss' such project will be located therein
SECTION 1.DECLARATION OF or within three (3) miles of the
to Repeal all Acts and Parts of Acts in Conflict POLICY corporate Iimih of such Town or
with the Provisions of this Act." approved April 7, 1IIII le hereby declared to be the City.
1921, and all amendments thereof, and paRay ef the County of Weld,State 2.2 The property on which any
particu- M Catered*, to encourage the such project is to be located must
tarty as amended by an act approved, March 30, lecallaa,relocation,or expansion of be within the corporate boundaries
1923, and an act approved M 18, 1931. m aeafechring,Industrial or cam• el Weld County and such property
YNNrdal enterprises within the Must have affixed thereto a soling'
-cerparete limits of the County,and M'tMct.classification of the County
_ le Setend to Issue development or et an incorporated City or Town
(,ee.a/. a as ma.bona pursuant to the 1967. which permits the proposed Project
Ca sty and Municipality Develop.. use.
- u-blisher West Revenue Bond Act, as set 2.3 The plans for the proposed
-hrlh le Section 294.101, et. seq., protect shall be in strict compliance
Subscribed and sworn to before me this __/72 en&� C.R.S. 1973, as amded. This Min anvcprloh setting and wbdi-
r/ /, Is adopted in furtherance of Mien regulations Of:Weld County
day of _-.{.' [ al A.D., 19_5'0 Mi denary objectives to mitigate • and of'any incerporated City or
,ale serious threat of extensive Team,N surd project will be located
ormployment,to secure and main wfiio the corporate limits of such
my,at balanced and stable qty der Town.
my, h ameliorate ronmen pollution and L4 The Canty, m ggNQfihibe
,pour environmental problems and
//— 7—�Z to provide for the public welfare.
My commission expires _-.._-.________._._.-_._ All such action provided under this •
Notary Public policy, as set forth herein in
Sections 2 and 3,shall be taken only
when the same Is exercised for the
benefit et the inhabitants of Weld
County and for the promotion of - - — -their safety,safety,welfare, convenience
and prosperity. '
In furtherance of the policy set
forth in Section 1, the Board
- declares that:
February 28. 1880
'A �- 1 - ! 1' li Mspin ay elle newest municipal
wrmRents• The twos el agree-
. \ i l 1 mat ler pay ranted off-Site
I-1.(ri-'f F MUST "NO'r'V Improvaten%stallefeebeream-
I Mended by the review teem to the
Bard of County Cetnmissianers.
�.,, The review teals May recommend
(5)Applicants prepared financial that artyin andlpblle be plated
wilt'rtnlcipalltle:'' statements dated willing sixty(60) up01n1M apuwM falurther insure
will review and determine the days m the application dote. InF repayment et,the tend=, and
adequacy of water and sewer tit) Gala el.the applicant's mayrerecommendmeto he bon pliant
services prior to approval by the financial statements,either audited provide teed tNstruction
Board of County ComMlssieeers. or otherwise satisfactory td the provide
gr a sand
2.5 Tip proposed project plain aunty,for the preceding five (5) to undertaking the.completion bend
prof
stall be reviewed and analyzed by years or the entire time during feet.
the County to determine necessary which the applicant has conducted o.J At sdchtimematMe review SECTION 2.EFFECTIVE DATE
LI This Ordinance shall take
sf-NM appal improvements to, s reeM- business. team has presented Its recommen- effect live (S) days after its final
dint but not limited to, streets, (i) Complete list of assets to be flagon,impact analysis,end off-site publication,as provided by Section
nuns, gutters, sidewalks. utility purchased or improvement agreement to the
easements,water and sewerBaes expenses-Incidental to the aaulsl- Board and to the'applicant, the 3-14(2)of the Weld Canty Home
and traffic control devices. Such tied,including costs of.the sale of Board shall schedule a public Rule Charter.
above shall include analysis and the revenue bolds. hearing for the purpose of discus- The above and foregelng Ora
comments offered by any inane: (I)kpaymentschedoleer formula sing the application and consider- nance No.N was, on motion duly
Med City,Town and School district for retirement of the bonds and lag public comment on Nte pre- made and seconded,adopted by the,
which may be affected by the payment in lieu of taxes and cost of peed bond issue. At the close of billowing voteN the--say of
prefect. Such analysis is for the naiMalning protect In good repair such public hearing,the Board may •A.D., Hes
purpose of reporting is the Board of and properly insured. determine whether or net its BOARDf)F COUNTY
away Commissioners the impact 3.6 Au Initial application fee of proceed to issue Me bonds and shall COMMISSIONERS
of sea development upon Other $500.00 to defray Me costs of the adopt a resolution formally dear. WELD COUNTY,COLORADO
municipal services and facilities. County analysis of the proposal as ing its intent. C.W.Kirby Chairman
the determination of which parties set forth in Section 4 of Mis 4.4 if the Board of Commissioners
shall bear the cost of any required Ordinance Nail be tendered With as considered the application and
off-site improvements shall be set the application. • the report from the review team, Leonard L.Roe,Pro-Tem
form in an agreement between alt 3.5 Other information specifically nes conducted a public hearing on Norman Carbon,Chairman
parties in I , prior to the desired by the Board not sat forth the application,and has adopted a -
caul ion by the Board of above. resolution of intent to issue the
County Commissioners of a resole- 3.6 The Board, by majority'vete, proposed bends,it shall direct the bydia Dunbar
Men ef intent to issue bonds for the May waive specific information review team to prepare the bond June K.Steinmark
Protect. required In the written application Issue. The review team will work ATTEST:
SECTION 3.APPLICATION for new concerns that have net with the applicant and with an Weld County Clerk and Recorder
REQUIREMENTS bean In Operation for the last five investment banker:and bond coon- and Clerk to the Board
in order to properly process and (I) years. The Bard, await, el suitable to-the applicant and to By:
consider applications le issue bands may request additional Informatien the County- eputY Clerk
for projects set forth herein,certain in ad&the Insatiate waived. SECTIONS.FEES UPON ISSU- APPROVED County ySler FORM:
criteria,procedures,guidelines and SECTION 4.COUNTY REVIEW ANCEOF INDUSTRIAL R EVE-
requirements shall be followed and OF APPLICATION NUE BONDS County Attorney
sebmitted by the applicants as sat At such time as the applicant Ins If industrial revenue bonds are DATED:FEBRUARY 20, 1900
Teeth Maw: provided all of the required issued pursuant M Section eel of Ibis DATED:
nihe Platteville Mersa
2.1 Legal opinion front an attorney Information and Mat all of the Ordinance,a fee in addition to the and La Salle Leader Thursday,Hld
who is a qualified Municipal bend above requirements, the fee specified m Section 3.4 of ties y gel lees.
counsel, acceptable to Me Bata, Canty shall conduct en analysis of Ordinance will be assessed against
stating that the applicant's preps- the information and the suitability the applicant in order to defray the
sal falls within'the Intent and of the proposal for implementation an to Weld County of processing
mania of Me Econemic.Devela- under this Ordinance. and issuing the industrial revenue
mint Revenue Bend Act. 6.1 A County review tam shall be team.
3.2 Evidence.that the proposed responsible for analyzing the eppli 5.1 If the bonds are issued,a fee in
bond Issue can be sold through an cation and making recommend,- ad,mon to the fee provided in
acceptable underwriter or te an flans to the. Board of County INctten3:6Nall be assessed in Me
experienced Investor or group of Commissioners concerning the a- assent of one percent(1%)of the
Investere. visibility of proceeding with the _teal bond issue. Such fee shall be
prepaid 2.3 A written application contain- prepaid bond issue. The review paid to the Weld County Govern-
log the following information, team shall Consist of the County most to defray the cost of
Seca: ' Finance Officer,the County Plan- Recessing of tin bond issuance,
la) A history of the applicant nor, and the County Attorney. In leant counsel,etc.
5.5 H the industrial ratnue bonds
1slWfag a description of its engage the review team may are ensued
operations. purpge op rode Counsel. far Me nascentta cmiimum
(b) Historical financial statistics
purpose ot renderia opinions and 'Nis Ordinance, the minimum
of applicant.for the last has
doing research on the propeed charge pursuant to 5.1 of this
rend or for the entire time It and issue. Ordnance shell be$5,000.00 and Me
and,cted business-If the applicant 4.2 The recontmendatien of the maximum charge shall be the sum
is proposing co-signers or gaerem- review team shall include an of$25,000.60
tors of the bond issue, this same analysis of the impact of the SECTION 6.VALIDITY OF
historical financial data must be daelepment dpen_Me Canty,and ORDINANCE
Supplied for the co-Signers or 6.1 if any section, subsection,
guarantors ph, sentence, clause or
(o) A written report from the phrase el this Ordinance is,for any
applicant's principal banker con- reason,held or decided te be invalid
awning the apliant's finanelal or unconstitutional, such decision
position and ability to meet the shall not affect the validity of the
expense of the proposed bond issue. remaining portions.
The applicant should also provide a - --- -- --- 6.2 The Beard of County Commis-
Dunn and Bradstreet Report or stoners of Wed County, Colorado
other equivalent national rating of hereby declare that it would have
Its financial position.tion, passed this Ordinance and each and
(d) Major customers of applicant every section, subsection,pare-
and the annual sales to each for the graph;sentence,clause and phrase
preceding two 12) years. thereof irrespective of the fact that
(e)A resume of principals and key any one or more sections, suaec-
employees of applicant, Including loons, paragraphs, sentences, ciau
directors and officers,if applicant ses or phrases might be declared to
be unconstitutional or invalid.
if a corporation. -- -
( Applicant's pro forma balance
sheets,income statements and cash
flow projections for the next five
(5) years, reflecting the proposed,
revenue bond issue.
TI
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